Important Short Interest Filing: Is Cellectar Biosciences Incorporated (NASDAQ:CLRB) a Buy? The Stock Reported Less Sellers

November 29, 2016 - By Nellie Frank
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The stock of Cellectar Biosciences Incorporated (NASDAQ:CLRB) registered a decrease of 3.93% in short interest. CLRB’s total short interest was 369,500 shares in November as published by FINRA. Its down 3.93% from 384,600 shares, reported previously. With 90,400 shares average volume, it will take short sellers 4 days to cover their CLRB’s short positions. The short interest to Cellectar Biosciences Incorporated’s float is 8.78%. About 294,982 shares traded hands or 4.72% up from the average. Cellectar Biosciences Inc (NASDAQ:CLRB) has declined 13.98% since April 26, 2016 and is downtrending. It has underperformed by 19.24% the S&P500.

Cellectar Biosciences, Inc., formerly Novelos Therapeutics, Inc., is a clinical stage biopharmaceutical company. The company has a market cap of $9.22 million. The Firm is engaged in developing phospholipid ether-drug conjugates for the treatment and diagnostic imaging of cancer. It has a 1.4 P/E ratio. The Company’s research and development program is based on its PDC cancer targeting delivery platform.

CLRB Company Profile

Cellectar Biosciences, Inc., formerly Novelos Therapeutics, Inc., incorporated on June 24, 1996, is a clinical stage biopharmaceutical company. The Firm is engaged in developing phospholipid ether-drug conjugates (PDCs) for the treatment and diagnostic imaging of cancer. The Company’s research and development program is based on its PDC cancer targeting delivery platform. The Company’s platform helps in discovery and development of a range of cancer targeting agents. The Company’s pipeline consists of pre-clinical and clinical product candidates, including radiotherapeutic and chemotherapeutic PDC’s. The Company’s PDC product portfolio includes CLR 131, CLR 125, CLR 124, CLR 1502 and CTX Product Portfolio.

More notable recent Cellectar Biosciences Inc (NASDAQ:CLRB) news were published by: Finance.Yahoo.com which released: “SeeThruEquity Issues Update on Cellectar Biosciences, Inc. (NASDAQ:CLRB)” on November 16, 2016, also Marketwatch.com with their article: “/quotes/zigman/3870025/realtime” published on February 24, 2014, Streetinsider.com published: “Cellectar Biosciences (CLRB) Selects CPDC as a Supplier for CLR 131” on November 28, 2016. More interesting news about Cellectar Biosciences Inc (NASDAQ:CLRB) were released by: Globenewswire.com and their article: “Cellectar Biosciences Announces Pricing of $8000000 Public Offering” published on November 23, 2016 as well as Seekingalpha.com‘s news article titled: “Cellectar Biosciences Readies New Offering As Trials Advance” with publication date: November 10, 2016.